Aequs, which partners with several global and domestic original equipment manufacturers in the toys, aerospace and consumer goods segment, said it would use the fund to scale up its manufacturing capabilities.
Aequs Chairman Aravind Melligeri, in a statement, said, “This equity investment sets us on a new trajectory to further expand operations in the three current verticals and continue to provide world-class manufacturing solutions to our global customers.”
This is the first external funding the company has received. Amicus Capital’s co-founder, Mahesh Parasuraman, said, ““With its marquee customer base, state-of-the-art infrastructure and vertically integrated manufacturing capabilities, Aequs is uniquely positioned to play a significant role in India’s emergence as a global manufacturing power-house.”
Aequs has fully integrated manufacturing operations across three clusters, Belagavi Aerospace Cluster (BAC), Koppal Toys Cluster (KTC), and Hubballi Durable Goods Cluster (HDC), all located in North Karnataka. The company was the first in India to build a toy-making cluster, which is located in a 400-acre facility at Koppal.
The company also operates global aerospace manufacturing facilities in the US and in France, and employs about 4000 people worldwide.